Phosphoric acid is an inorganic mineral acid and can be referred to as phosphoric (V) acid or orthophosphoric acid. Orthophosphoric acid molecules combine with themselves to form various compounds which are termed as phosphoric acids. Phosphoric acid is largest in terms of production and consumption value and follows sulfuric acid in terms of volume. In addition to being a chemical reagent, phosphoric acid acts as rust inhibitor, dental and orthopedic etchant, flux, electrolyte, industrial etchant, dispersing agent, home cleaning product and fertilizer feedstock. Phosphate fertilizer is a major application of phosphoric acid which consumes approximately 90% of the production. Phosphoric acid is used to manufacture phosphate chemicals that have an application in detergent builders, fire control chemicals and water treatment. Surface healing of metals, production of animal food and beverages adulation are some of the major applications of phosphoric acid. The increasing demand of such applications from end-user industries and fast-moving consumer goods are the major drivers of phosphoric acid market in the upcoming years.
Phosphoric acid and its phosphate by-products can be used for sequestration of metal ions along with precipitation, pH control, nutrient source, scale inhibition, water fluoridation, lead precipitation agent, corrosion inhibitor, acidity regulator, synergy with surfactants, alkalizing capacity, dispersing agent, buffer agent, and softening and complexion agent. Phosphoric acid can be classified according to its use in metal treatment industry and detergents industry. In metal treatment industry, phosphoric acid is used for metal polishing and phosphating and for the production of electrical sheets. Additionally it can be used to manufacture household and industrial detergents in the detergent industry. Asia pacific is currently the largest market and is expected to dominate over the forecast period owing to India and China manufacturing various application products of phosphoric acid and other phosphate products. African, Middle-east and Latin American phosphoric acid market are also growing at a fast pace. The increasing demand for phosphate fertilizers has simultaneously increased the demand of phosphoric acid. The rising requirements of food production in India and China have been predicting a high rise in its phosphoric acid market. Moreover, the strong agriculture market of India and China will support the growth of phosphoric acid. Phosphoric acid market will face a strong demand in the coming years because of the tight supplies of sulfur.
The key companies in the phosphoric acid market include Eurochem, Acron OAO, CF industries holdings inc., Argium inc., Israel Chemical Ltd., Innophos Holdings inc., Foskor, Kazphosphate LIC, Chemische fabric Budenheim, Italmatch chemicals S.P.A KG, Yara International ASA, Vale SA, Yuntianhua Group co. ltd., The Mosaic Company, Saudi-Arabian Mining Company, United Phosphorus Ltd., Solvay-Rhodia, Laxness AG, Jordan Phosphate Mines co., Potash Corp. of Saskatchewan inc., OCP SA, Prayon SA and OJSC Phosagro AG.
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